Gas Prices Reach Record High Under Biden Admin

Gas Prices Reach Record High Under Biden Admin

Biden Blames Everyone But Himself As Gas Prices Reach Staggering New Heights

( – Americans are already facing a cost of living crisis, and it keeps getting worse. Gas prices hit a new record on Tuesday, and industry experts think they’re going to keep on rising. Our government claims it’s doing everything it can to keep fuel prices low, but is it really true?

On May 17, the average price of a gallon of regular unleaded gasoline reached $4.523 — the highest it’s ever been. Of course, by now a new record high gas price is no surprise; it’s set a new record almost every day for the last week, and is now 27% higher than when Russia invaded Ukraine less than three months ago. Since President Biden took office it’s risen by more than 50%.

Inflation is affecting a wide range of goods, but rocketing gas prices underpin it all. Higher transport costs make everything that moves by truck more expensive, and for many Americans, even add significant amounts to the cost of driving to the store to buy groceries. If inflation is to be brought under control, gas prices have to come down.

The Biden administration has acted to make more gas available, releasing a million barrels of oil a day from our strategic reserve and threatening to fine companies that own idle oil wells. However, one of the first things Biden did when he took office was ban new drilling licenses on federal lands. Last month, a federal judge struck down the ban, and licenses are being issued again, but even in the depths of the current crisis, the administration is fighting the court decision. On top of that, the current bottleneck is oil refinery capacity, not production. The White House needs to decide if it’s serious or not about doing what’s needed to bring fuel prices down and availability up.

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